ZAP – ZP (ZAAP.OB)
StockGuruProfile Zap Consumers are facing higher energy and food prices. Together, food and energy account for more than a quarter of consumer expenditures. Fuel efficiency for middle and lower income Americans is essential. That is precisely what ZAP offers.With the average price for a gallon of gasoline in April at $2.64, the highest level since Labor Day weekend of last year, fuel efficiency is of primary importance for consumers shopping for new vehicles. Driving less, fewer trips and shorter trips are becoming a way of life for the American consumer. Zap’s electric vehicles are ideal for this approach to transportation.The price of gasoline could top $3 a gallon this summer in many parts of the nation,Jim Mulva, CEO of ConocoPhillips predicted. Nationally last week, the average was $2.81, which is eleven cents higher than a month earlier. In some markets, such as Los Angeles, prices are above $3.25. The last time the nationwide average exceeded $3, at $3.04, was in August.
Bob Ball, economic research manager for the Tulsa Metro Chamber, said “My guess is that $2.50 will be the bottom for some time to come. And, if the price reaches $3, I think it could remain there this time.”
FACTORS DRIVING UP OIL AND GASOLINE PRICES:
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International tensions remain high as Iran continues to defy a U.N. Security Council demand that the country cease uranium enrichment.
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Refinery output falls as some plants close for scheduled maintenance and one in Texas shuts down after a fire.
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U.S. gasoline inventories decline in recent weeks, while demand remains strong.
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Output by the Organization of Petroleum Exporting Countries slides to its lowest level in more than two years.
Some hurricane experts predict an active season, which could endanger production in the Gulf of Mexico.
The rise in gasoline prices goes beyond higher oil prices brought about by Iran’s detention of 15 British sailors. Gasoline inventories are falling sharply. What’s more, lower oil production by OPEC members and refinery shutdowns have constrained supplies. Overall, gasoline prices could move close to a national average of $3 per gallon, says Berner. The picture for food prices looks a little less threatening on forecasts of a record corn harvest this year. Middle- and lower-income households will feel the biggest squeeze from higher prices. According to the March Reuters/University of Michigan consumer sentiment index, 40% of families with income under $50,000 say their current financial situation has worsened. Electric cars are no longer a concept, they are a reality that is here to stay, along with the higher gasoline prices Americans know so well. More companies and investors in the auto sector and other industries previously reliant on petroleum are now thinking green. Venture capitalists invested $2.9 billion in clean technology start-ups last year, according to Ann Arbor, Mich., research group Cleantech Venture Network, more than double the $1.2 billion invested in the sector in 2004. Renewable energy companies received about $2.1 billion in funding, up from just $739 million in 2005. Zap is ahead of the Go Green Game. They are established, have relationships with manufacturers that understand fuel efficiency and that is a powerful strength when combined with Zap’s extensive understanding of U.S. and California regulations for the importation of foreign vehicles.Source: Zap Automotive, CNN, Wall Street Journal, Barrons
For more information, visit http://www.zapworld.com .
Source: ZAP
Contact: ZAP
Alex Campbell, 707-525-8658 ext. 241
acampbell@zapworld.com
http://www.ZAPworld.com
501 4th St.
Santa Rosa, CA 95401
Phone: 707-525-8658
Fax: 707-525-8692
About ZAP: ZAP has been a leader in advanced transportation technologies since 1994, delivering over 90,000 vehicles to consumers in more than 75 countries. ZAP is at the forefront of fuel-efficient transportation with new technologies including energy efficient gas systems, hydrogen, electric, fuel cell, alcohol, hybrid and other innovative power systems. For more information, visit http://www.zapworld.com .Forward-Looking Statements: Statements in this press release that relate to future plans or projected results of ZAP are ‘forward-looking statements’ within the meaning of Section 27A of the Securities Act of 1933, as amended by the Private Securities Litigation Reform Act of 1995 (the “PSLRA”), and Section 21E of the Securities Exchange Act of 1934, as amended by the PSLRA, and all such statements fall under the ’safe harbor’ provisions of the PSLRA. ZAP’s actual results may vary materially from those described in any ‘forward-looking statement’ due to, among other possible reasons, the continued acceptance of ZAP’s products, increased levels of competition, new products and technological changes, ZAP’s dependence on third-party suppliers, intellectual property rights, and the realization of any of the other risks described in ZAP’s Annual Report on Form 10-KSB, or in any of ZAP’s other filings with the Securities and Exchange Commission. Readers of this press release are cautioned not to put undue reliance on forward-looking statements.
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